Australia's PushStart closes accelerator program

PushStart founders, Kim Heras and Roger Kermode, told investors this week that the accelerator program had been halted earlier this month after almost 18 months in operation.

Meanwhile, it was also announced Kermode would take over the lead role at PushStart as Heras sets up a new commercial startup organization of his own, the details of which have not been revealed.

In a statement Heras said the PushStart had been established as a gap-filler in the start-up community offering educational and social events for entrepreneurs before adding its start-up accelerator - but now the accelerator's services are no longer required.

"On July 1, PushStart reverted back to its community roots," he said. "That means it is now focused on non-commercial activities that add value to the many new and existing startup founders and organizations that form the local startup community."

He added that it had become difficult to be fully committed to both building the community and to commercial activities at the same time. Heras also insisted that the closure was not an indicator of the success of the program - six of the eight startups from the program continue to operate successfully.

PushStart competers initially included Australia's first start-up accelerator, StartMate, and AngelCube ; corporate-backed programs such as ANZ Innovyz and the Optus Innov8 seed fund have since entered the space.

Earlier this year, StartMate co-founder Niki Scevak - who co-founded Blackbird Ventures - saw a first close of A$20 million on his maiden A$30 million internet-focused venture capital fund .

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• Topics
• Australasia
• Early-stage
• Venture
• Australia
• seed
• Blackbird Ventures
• Venture